Branko Milanovic
@brankomilan.bsky.social
1) Income inequality; 2) Politics; 3) History; 4) Soccer.
Author of "Global inequality" and "Capitalism, Alone" (2019).
Stone Center, CUNY; LSE, London
Branko Milanović is a Serbian-American economist. He is most known for his work on income distribution and inequality.
Source: Wikipedia
Economics
47%
Political science
31%
Was everybody under socialism a millionaire?
Presentism plus rich-country centrism.
But they never even bother to stop and think if these new definitions were accepted how would they change inequality results for China, South Africa, India, historial US or UK data.
No, they work in a vacuum where they do a single calculation for the US and then leave it at that.
No, they work in a vacuum where they do a single calculation for the US and then leave it at that.
decided that they can change definitions of income, wealth or whatever to get the results they like.
This is nothing new,
As I wrote, it has been going on for more than a decade and is entirely politically motivated.
This is nothing new,
As I wrote, it has been going on for more than a decade and is entirely politically motivated.
The problems began when Piketty and others attracted attention by showing high inequality in rich countries.
Twelve years have passed since, and most of the time those who did not like the results (and actually never worked on inequality before nor cared about it),
Twelve years have passed since, and most of the time those who did not like the results (and actually never worked on inequality before nor cared about it),
Internationally-accepted definitions of (say) disposable income or wealth have existed for at least 50y. They had their own conventions (the Canberra rules for income, capital gains) or UN System of National Accounts.
Agree. When they do not like the results, they just change the definition of either income or wealth or whatever.
Reposted by Branko Milanovic
Within and Between
The Great Global Transformation: National Market Liberalism in a Multipolar World, Branko Milanovic, 2025.
unevenandcombinedthoughts.substack.com
This week's review! - @brankomilan.bsky.social's The Great Global Transformation. On political economy of our moment.